For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
COVERED ACCOUNT.
(1) An account that a financial institution or creditor offers or maintains, primarily for personal, family, or household purposes, that involves or is designed to permit multiple payments or transactions, such as a credit card account, mortgage loan, automobile loan, margin account, cell phone account, utility account, checking account, or savings account; and
(2) Any other account that the financial institution or creditor offers or maintains for which there is a reasonably foreseeable risk to customers or to the safety and soundness of the financial institution or creditor from identity theft, including financial, operational, compliance, reputation, or litigation risks.
CREDIT. The right granted by a creditor to a debtor to defer payment of debt or to incur debts and defer its payment or to purchase property or services and defer payment therefore.
CREDITOR. Any person who regularly extends, renews, or continues credit; any person who regularly arranges for the extension, renewal, or continuation of credit; or any assignee of an original creditor who participates in the decision to extend, renew, or continue credit and includes utility companies and telecommunications companies.
CUSTOMER. A person that has a covered account with a creditor.
IDENTITY THEFT. A fraud committed or attempted using identifying information of another person without authority.
NOTICE OF ADDRESS DISCREPANCY. A notice sent to a user by a consumer reporting agency pursuant to 15 U.S.C. § 1681(c)(h)(l), that informs the user of a substantial difference between the address for the consumer that the user provided to request the consumer report and the address(es) in the agency’s file for the consumer.
PERSON. A natural person, a corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative or association.
PERSONAL IDENTIFYING INFORMATION. A person’s credit card account information, debit card information, bank account information, and drivers’ license information, and for a natural person, includes their social security number, mother’s birth name, and date of birth.
RED FLAG. A pattern, practice or specific activity that indicates the possible existence of identity theft.
SERVICE PROVIDER. A person that provides a service directly to the town.
(Ord. 030915, passed 3-23-2015)